TALBOT7465

Lincoln’s Inn ¹
9^th October 1857

My dear Sir

I have not been able to see M^r Loxley ² until to-day –

The account he gives me of the position of the Defendants is this –

The Company ³ is broken up and the proprietorship rests between M^r Carlton ⁴ of Manch^r & M^r Fenton ⁵– but a large am^t of capital £3000 (perhaps the whole) has been expended and M^r Carlton is the only substantial partner remaining – it is even doubtful whether M^r Fenton will not withdraw altogether – M^r Carltons view of the matter is that he is weary of the losses already sustained but more weary of the unexpected difficulties & litigation in which he finds himself surrounded – That he has made up his mind not to pursue the business any further as a commercial speculation unless he can rid himself of all that is extraneous to the vigorous prosecution of the manufacture industrially – He has separated himself from his partners, (with much trouble & expense from Dallas ⁶) and before a farthing of profits can be realised and before he could effectively controul the expenditure, the capital is absorbed –

His determination therefore is, not to lay out any more money, unless he can come to an accomodation with You: so that if the offer made be not accepted, he will shut up the Establishment & close the works, putting the Patent ⁷ on the shelf –

I have full reliance upon the bona fides ⁸ of this communication and am of opinion that we should accept the offer as made (being their N^o 2) with the exception of making the License an exclusive one.

I admit that the prospect of the continuation of the manufacture is an additional makeweight with me in recommending the above upon the supposition that You will be sorry to see it dropped.

Believe me to remain My dear Sir Ever Your’s faithfully
J. H Bolton

NB. I learn that very little is doing at the Establishment & that they don’t go on well with Pretsch.

[envelope:]
W^m H^y. Fox Talbot Esqr.
Lacock Abbey
Chippenham